secwatch.observer — SEC 8-K summary
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Issuer:     Ocean Biomedical, Inc. (OCEA)
CIK:        0001869974
Form:       8-K
Filed at:   2025-03-26T23:59:59+00:00
Accession:  0001641172-25-000747
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Ocean Biomedical lowers note conversion price to $0.01 per share on $400K amount
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- Conversion price on $400K promissory note reduced irrevocably from $1.50 to $0.01 per share.
- Company may not redeem or prepay the $400K Reduced Conversion Amount.
- Note originally issued on May 15, 2023 to an institutional investor.
- Change triggers potential dilution by allowing conversion at near-zero price.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1869974/000164117225000747/0001641172-25-000747-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1869974/000164117225000747/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-000747

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer